Author: FX

Investing.com– Most Asian currencies weakened on Thursday, while the dollar rose to a one-year high on data showing continued stickiness in U.S. inflation, with focus now turning to an upcoming address by Federal Reserve Chair Jerome Powell. Sentiment towards regional markets remained weak after recent stimulus measures from China disappointed, while the prospect of more U.S. protectionism under a Donald Trump Presidency also kept traders biased towards the dollar.  Most Asian currencies were nursing steep losses over the past week on this trade, with the Japanese yen and the Chinese yuan among the worst hit.  Dollar at 1-year peak after…

U.S. crude oil prices have been down bad all week as traders priced in global demand concerns. How low can crude oil go with a lot of closely watched support levels nearby? We’re taking a closer look at WTI (USOIL)’s 4-hour time frame! WTI Crude Oil (USOIL) 4-hour Chart by TradingView In case you missed it, the Black Crack has been having trouble attracting sustained demand all week as traders bought more U.S. dollars. Meanwhile, OPEC just downgraded its 2024 and 2025 demand forecasts (again!), citing concerns over demand from key markets like China and India. Remember that directional biases…

Market correlations seemed out of sync, as traders braced for the the U.S. CPI report and a series of FOMC member speeches that influenced Fed policy expectations and overall sentiment. Bitcoin once again surged to new all-time highs while crude oil tossed and turned in reaction to production-related concerns. Headlines: Australia quarterly wage price index came in at 0.8% q/q in Q3 (0.9% expected, 0.8% previous) BOE MPC member Catherine Mann suggested inflation hasn’t been “vanquished,” indicating policymakers may wait on rate cuts U.S. headline CPI in Oct: 0.2% m/m as expected; annual headline CPI rose from 2.4% to 2.6%…

The ever-evolving world of forex trading demands a diverse toolkit for navigating the market’s unpredictable currents. Today, we’ll delve into a powerful technical analysis tool – the Solar Wind Joy Histogram MT4 Indicator. This guide, crafted with both novice and seasoned traders in mind, will equip you with a comprehensive understanding of the Solar Wind Joy Indicator’s functionalities, customization options, and strategic applications. Let’s embark on this journey of market mastery, one histogram bar at a time! Understanding the Core Functionalities of the Indicator Now, let’s delve deeper into the inner workings of this valuable tool. Demystifying the Dynamic Moving…

The Spearman Correlation and ZigZag Arrow Forex Trading Strategy is an innovative approach that blends statistical analysis with technical indicators to enhance trading decisions. By utilizing the Spearman Correlation, traders can assess the strength and direction of relationships between currency pairs, providing valuable insights into potential market movements. This correlation method allows traders to identify patterns that may not be apparent through traditional analysis, enabling them to make more informed trading choices. Complementing this statistical tool is the ZigZag Arrow indicator, which simplifies the often chaotic nature of price action. This indicator filters out minor price fluctuations, highlighting significant trends…

The Day of Week Labels and Volume Weighted Average Price (VWAP) Forex Trading Strategy is a unique approach that leverages the interplay between daily market patterns and a dynamic pricing indicator to optimize trading decisions. As traders, understanding how market behavior fluctuates throughout the week can be crucial in identifying opportunities. Each day can present distinct price movements influenced by various factors, including economic news releases and trader sentiment. By labeling days of the week, traders can analyze historical performance, enhancing their ability to predict future market behavior and capitalize on trends that recur regularly. At the heart of this…

The October jobs report from Australia was not as strong as we have become accustomed to:Australian October unemployment rate 4.1% (vs. 4.1% expected)It was not a poor report, just not another blockbuster!AUD/USD is not a lot changed. Earlier we had Reserve Bank of Australia Governor Bullock sounding not dovish:RBA Bullock says rates are restrictive enough, staying there until confident on inflation This article was written by Eamonn Sheridan at www.forexlive.com. Source link

USD/CAD extends the rally to around 1.4000 in Thursday’s early Asian session.  US CPI matched estimates in October.  The expectation of a more aggressive rate cut from the BoC than the Fed, lower crude oil prices weigh on the Loonie.  The USD/CAD pair gains momentum to near 1.4000, the highest level since 2020 during the early Asian session on Thursday, bolstered by the stronger Greenback. The attention will shift to the US October Producer Price Index (PPI), which is due later on Thursday. The US Dollar (USD) climbed to the highest level since November 2023 due to so-called Trump trades and…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

Mexican Peso finds its foot after US inflation data announced ahead of Banxico decision. US inflation report meets forecasts, raising chances of a Fed rate cut in December to 82%. Banxico expected to reduce rates to 10.25%, potentially narrowing the interest rate differential with the US. The Mexican Peso stayed firm against the US Dollar during the North American session on Wednesday as investors digested the latest US inflation report. Alongside that, traders braced for the Bank of Mexico (Banxico) monetary policy decision on Thursday, expecting the central bank will slash rates. At the time of writing, the USD/MXN trades…